New York § 121-301 - 121-301Admission of limited partners
Full text of New York New York Consolidated Laws § 121-301 — 121-301Admission of limited partners, with citation guidance and answers to common questions.
§ 121-301. 121-301Admission of limited partners
§ 121-301. Admission of limited partners. (a) A person becomes a limited partner on the later of: (1) the effective date of the original certificate of limited partnership; or (2) the date as of which the person becomes a limited partner pursuant to the partnership agreement; provided, however, that if such date is not ascertainable, the date stated in the records of the limited partnership. (b) After the effective date of a limited partnership's original certificate of limited partnership, a person may be admitted as a limited partner: (1) in the case of a person acquiring a partnership interest directly from the limited partnership, upon compliance with the partnership agreement or, if the partnership agreement does not so provide, upon the written consent of all partners; and (2) in the case of an assignee of a partnership interest of a partner who has the power, as provided in section 121-704 of this article, to grant the assignee the right to become a limited partner, upon the exercise of that power and compliance with any conditions limiting the grant or exercise of the power.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 121-301
What does New York Consolidated Laws § 121-301 cover?
Section 121-301 ("121-301Admission of limited partners") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 121-301?
A common citation format is "New York Consolidated Laws § 121-301" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 121-301 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.